NEW YORK (TheStreet) -- Shares of Nike (NKE) - Get Report are up 0.44% to $101.33 in early morning trading Tuesday after Deutsche Bank increased its price target to $115 from $110, while maintaining its "buy" rating.
Deutsche Bank analysts maintain their rating given Nike's numerous growth levers, which include a continued strong constant currency futures profile in North America and globally, and a reinvigorated strategic pursuit of the women's and children's market.
The athletic retail company has one of the best long-term margin opportunities, which includes benefits from shifting revenues to apparel from footwear, to retail from wholesale, and to foreign markets from domestic ones, the firm noted.
"We're incrementally more bullish on the long-term opportunity for Nike in China and candidly, in Asia Pacific broadly, Latin America and Europe as well," analysts said.
Analysts believe that China is implementing plans, such as putting in programs to drive 'sports' as a sector for employment, reduce long-term healthcare costs and to allow the country to be more prominent on the global stage with professional sports teams, with the intent to encourage foreign brand participation.
Deutsche Bank raised their price target based on the view that the Chinese business is starting to inflect stronger for Nike specifically, after at least of year of turnaround related pressures.
Separately, TheStreet Ratings team rates NIKE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NIKE INC (NKE) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
You can view the full analysis from the report here: NKE Ratings Report